Weekly Newsletter - 10.30.2024

Electronics Sales Surge 30% Amid Festive Season Demand

Author

Zihan Lyu
October 30, 2024

Sales is transforming, but core principles endure. Expert Roderick Jefferson highlights the essentials: hire for cultural fit and adaptability, with AI helping to identify candidates who align with your team’s needs. Onboarding should be an ongoing journey, including:

  • Company Orientation

  • Role-Specific Training

  • Mentorship from Sales Leaders

Continuous learning keeps teams sharp, with AI personalizing paths for each individual. Data-driven coaching and focusing on meaningful metrics like deal velocity ensure a team built for long-term success.

For more insights, download the ebook, a partnership with Hive Perform and Roderick Jefferson.

INDUSTRY INSIGHTS 🌐

Samsung Electronics is exiting the LED business to focus on power semiconductors, driven by underperformance in the LED sector. Despite a 17.2% sales increase, profits fell short of expectations. Samsung aims to enhance its semiconductor division, crucial for industrial growth, amid challenges like delayed U.S. plant equipment procurement.

LG Electronics aims for KRW100 trillion in sales by 2030, focusing on platform services, HVAC, and automotive parts. The Triple 7 strategy targets 7% annual sales growth, 7% profit margin, and valuation growth. LG plans shareholder-friendly measures, including dividends and potential share buybacks, to boost investor confidence.

INDUSTRY NEWS 📰

The electronics industry anticipates a 30% sales increase and 20% employment growth during the festive season, driven by high demand for premium home appliances. E-commerce and traditional stores benefit, with significant job opportunities in logistics, e-commerce, and hospitality sectors, highlighting the industry's robust expansion and economic impact.

Valeo has revised its 2024 sales forecast to $23.1 (€21.3) billion, down from $23.9 (€22) billion, due to challenges in the European automotive sector. Factors include high production costs, EV transition issues, and competition from Chinese manufacturers. Despite lower sales, Valeo maintains its margin and cash flow guidance.

EVENTS 📆

Join sales enablement expert Roderick Jefferson from @Roderick Jefferson & Associates as he explores "Ever-Boarding" -- a continuous process for developing and upskilling sales professionals.

Date and Time: Nov 13, 2024 (Wednesday), 6 PM GMT / 2 PM ET

You'll learn:

  • How AI can help you provide personalised coaching to sales reps based on their individual strengths and weaknesses, analysing calls, emails, and meetings to identify areas for improvement

  • How to build a culture of continuous learning and development by using AI-powered tools to deliver knowledge bites and reinforce best practices

  • How to design a data-based process that removes time blockers and accelerates the ramping up of sales reps

Sales Intelligence is a Contentive publication in the Sales & Marketing division